Gawker files for Bankruptcy, Hulkamania runs wild!

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Welp, that's it! Yes, that 146 million is absurd and a lot of jobs will be lost, but that is the end of Gawker media completely. Although their sites such as Kotaku, Jezebel, Gizmodo, ect all have an unfortunate future. Either they'll most likely close down, have their own spin-off, sold to other media outlets.

(UPDATE): Seems like they already have a buyer as Ziff Davis Media (PCMag, AskMen, IGN) for $100 Million. Although, it seems that their maybe other buyers that can beat the price.

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146 million is absurd, especially considering most unlawful death or malpractice lawsuits average under 1 million.

Hull Hogan is a wuss, a very rich wuss, and he is still one of my heros.

That shitfest of a place deserved being sunk by a nuclear attack. Not one of my cells feels bad about them crashing and burning. In fact, I'm sad that sites such as Jezebel and Kotaku will continue operating when they deserved being obliterated at the molecular level.

I'm not a fan of Hulk Hogan (and not just because he, apparently, would not be cool with me dating his daughter) but I'm glad he won his suit. Gawker is a pretty awful organization, and while I'm sad about the uncertain fate that this puts sites like Kotaku and Gizmodo in, the situation is absolutely not Hogan's fault. Someone will likely pick them up, though. Shuttering globally ranked sites would be stupid.

-Byshop

@Byshop: This is what Stephen Totilo wrote about the future of Kotaku

The news is out that Gawker Media, our parent company, is up for sale as part of a filing for Chapter 11 bankruptcy protection. This was due to an unprecedented legal assault financed in secret by Silicon Valley billionaire Peter Thiel. What does that mean for Kotaku? Thankfully, not much. We aren’t going anywhere.

For more than a decade, we at Kotaku have been publishing the kinds of stories and videos about games and gaming culture that we believe people who love this stuff want to see. And we thank the millions of you who have kept up with us each and every month.

Through the Chapter 11 process, we will continue normal operations and maintain that same editorial focus. That means covering E3 next week, reporting about gaming culture in the months to come and, of course, writing the best possible review of Half-Life 3 when it finally comes out.

At some point this year, we and the rest of the sites at our company will be doing what we do under a new owner. That’s a ways off. For now, you can expect us to proceed with business as usual. We will continue to try to put the best possible gaming site out there, one that we hope will interest you for months and years to come.

--Stephen Totilo Editor in Chief Kotaku.com

Ziff Davis buys Gawker. Will Kotaku still exist or be absorbed into IGN?

Yep, saw that news. I think they'll absorb the company otherwise may end up reshuffling Kotaku as a culture site for Otaku's.

Good, that site along with its offspring sites like deadspin deserve to fail. They are bottom of the barrel journalism who harass and try to destroy the lives of anybody that they have a disagreement with. While I have sympathy for some, the majority of them I do not one bit, they dug this hole and the fact that even the liberal parts of the internet don't care about them shows just how pathetic their reputation was.

Good riddance only wish they would leave tomorrow.

What exactly is the case here? Some background info for the ignorant would be nice.

Edit: Oh it is related to that case.

Hopefully something similar will happen to buzzfeed

I agree as well! That site just loves to start a race war

No more wrestlers left to bury? no problem!